The action is for specific performance of a contract for the sale and purchase of vacant land owned by the City of New York and located in the Borough of Richmond, or in the alternative for money damages. The contract was made pursuant to an auction sale conducted by the city on May 9, 1957, in which the premises were sold to plaintiff's assignor for the sum of $81,500. The terms and conditions of sale provided, in part: "The right is reserved to withdraw any parcel from...
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